Pinterest (NYSE:PINS) PT Raised to $49.00 at Loop Capital

Pinterest (NYSE:PINS) had its target price boosted by research analysts at Loop Capital from $43.00 to $49.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Loop Capital’s target price suggests a potential upside of 16.89% from the stock’s current price.

Several other equities analysts also recently commented on the stock. KeyCorp decreased their price target on shares of Pinterest from $48.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Rosenblatt Securities reaffirmed a “buy” rating and set a $48.00 target price (up from $45.00) on shares of Pinterest in a report on Wednesday, May 1st. Citigroup boosted their price target on Pinterest from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Susquehanna raised their price objective on Pinterest from $35.00 to $45.00 and gave the stock a “positive” rating in a research note on Friday, February 9th. Finally, Argus upgraded Pinterest from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Thursday, January 18th. Eight research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, Pinterest has an average rating of “Moderate Buy” and a consensus price target of $41.26.

Pinterest Stock Up 1.3 %

Shares of NYSE:PINS opened at $41.92 on Monday. Pinterest has a 12-month low of $20.88 and a 12-month high of $42.09. The business has a 50 day moving average of $35.03 and a 200-day moving average of $34.79. The stock has a market cap of $28.64 billion, a PE ratio of 199.63, a P/E/G ratio of 4.02 and a beta of 0.99.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The business had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. Equities research analysts expect that Pinterest will post 0.43 earnings per share for the current year.

Insider Buying and Selling at Pinterest

In other news, insider Sabrina Ellis sold 24,410 shares of Pinterest stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total transaction of $866,310.90. Following the transaction, the insider now owns 500,504 shares in the company, valued at $17,762,886.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Sabrina Ellis sold 24,410 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total transaction of $866,310.90. Following the completion of the transaction, the insider now directly owns 500,504 shares in the company, valued at $17,762,886.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey D. Jordan sold 20,000 shares of Pinterest stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $36.65, for a total value of $733,000.00. Following the completion of the transaction, the director now directly owns 54,215 shares in the company, valued at $1,986,979.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 164,471 shares of company stock worth $5,773,431. 7.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pinterest

A number of hedge funds have recently bought and sold shares of PINS. GAMMA Investing LLC acquired a new stake in Pinterest during the 4th quarter worth about $27,000. Rakuten Securities Inc. acquired a new stake in Pinterest during the fourth quarter worth approximately $30,000. Washington Trust Advisors Inc. increased its holdings in Pinterest by 46.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after purchasing an additional 326 shares in the last quarter. Quent Capital LLC lifted its stake in Pinterest by 71.2% in the first quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock valued at $38,000 after buying an additional 460 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Pinterest during the 4th quarter worth approximately $43,000. Institutional investors own 88.81% of the company’s stock.

About Pinterest

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.